QatarEnergy and Chevron Phillips agree to create $6 billion petrochemical firm

Qatar’s national petrochemical company QatarEnergy and the US-Dutch company Chevron Phillips have signed an agreement for the construction of a Ras Laffan Petrochemicals plant for the production of petrochemical products. Its cost is estimated at $ 6 billion, reports RIA Novosti with reference to the press service of QatarEnergy.

The company said Ras Laffan Petrochemicals is an integrated alkene and polyethylene production enterprise in the industrial city of Ras Laffan (80km northeast of Doha).

Under the deal, QatarEnergy will hold 70% of the company’s shares and Chevron Phillips 30%. The Ras Laffan Petrochemicals complex is scheduled for launch in 2026. It comprises an ethane cracker with a capacity of 2.1 million tons of ethylene per year and two polyethylene lines with a combined capacity of 1.7 million tons of products polymeric high density polyethylene per year. This will increase Qatar’s total petrochemical production capacity to nearly 14 million tonnes annually.

Daria Erozbek

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